Canadian Tire (TSE:CTC.A) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Key Points

• Canadian Tire's stock price recently surpassed its 200-day moving average of C$163.11, with shares trading at C$184.03 following a peak of C$186.00.
• Several analysts have upgraded their price targets for Canadian Tire, with National Bankshares setting theirs at C$204.00, indicating a positive outlook for the stock.
• The company has a market capitalization of C$9.61 billion and a consensus rating of "Moderate Buy" from analysts, with a price target average of C$177.50.

Shares of Canadian Tire Co. Limited (TSE:CTC.A - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$163.11 and traded as high as C$186.00. Canadian Tire shares last traded at C$184.03, with a volume of 507,163 shares.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. National Bankshares upped their target price on Canadian Tire from C$173.00 to C$204.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 16th. BMO Capital Markets boosted their target price on Canadian Tire from C$170.00 to C$175.00 in a research report on Friday, May 9th. TD Securities raised their target price on shares of Canadian Tire from C$181.00 to C$201.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Jefferies Financial Group boosted their price target on shares of Canadian Tire from C$140.00 to C$164.00 in a report on Friday, May 9th. Finally, Desjardins raised their price objective on shares of Canadian Tire from C$175.00 to C$195.00 and gave the stock a "buy" rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$180.00.

Canadian Tire Stock Performance

The firm has a market capitalization of C$8.63 billion, a P/E ratio of 24.15, a P/E/G ratio of 0.35 and a beta of 1.33. The company has a debt-to-equity ratio of 173.58, a current ratio of 1.79 and a quick ratio of 1.15. The stock's 50 day moving average is C$183.78 and its two-hundred day moving average is C$163.45.

Insiders Place Their Bets

In other Canadian Tire news, Director Steve Frazier acquired 450 shares of the company's stock in a transaction on Monday, June 9th. The shares were purchased at an average price of C$178.77 per share, for a total transaction of C$80,447.09. 1.90% of the stock is currently owned by company insiders.

About Canadian Tire

Canadian Tire Corporation, Limited provides a range of retail goods and services in Canada. The company operates through three segments: Retail, CT REIT, and Financial Services. The Retail segment retails general merchandise, apparel, footwear, sporting equipment, gasoline, sporting goods and active wear, and workwear under the Canadian Tire, SportChek, Sports Experts, National Sports, Pro Hockey Life, Atmosphere, Mark's, PartSource, Gas+, and Helly Hansen banners.